Business
Coronavirus triggers biggest US economic plunge on record; tech stocks rise, unfazed – ABC News
The US economy shrank by almost a third in the three months to June 30 as coronavirus shut millions of business and put tens of millions out of work.
The Australian share market has opened in the red, falling back below 6,000 points, but technology stocks were on the rise, following similar moves on Wall Street.
Key points:
- Australian shares are sharply lower, after a mixed finish on Wall Street overnight
- The US economy shrank by an annualised 32.9 per cent in the June quarter, its worst fall on record
- Amazon posted a record quarterly profit of $US5.2 billion, twice what it made the same time last year
By …
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